WTI crude oil futures experienced a significant surge, climbing 8.51% in a single day, marking the largest daily increase in six years. This spike was driven by Iran's blockade of the Hormuz Strait, a critical chokepoint for global oil shipments. The price briefly reached $87.84 per barrel, setting a new high for the year. The market is now watching to see if major exchanges will expand support for WTI futures trading in response to these developments.